Top-Talent Scholarship Fund FAQs
What is the Top-Talent Scholarship Fund?
The Top-Talent Scholarship Fund is a crowdfunding platform devoted to micro-funding for North American college and university students. This platform permits donations into pooled geographical funds that are then directed to deserving students as scholarship awards. The Top Talent Scholarship Fund:
- Helps top students get the financial support they need to succeed
- Encourages student achievement in the classroom and the community
- Gives supporters a wide range of donation options and benefits
What is crowdfunding?
Crowdfunding describes the collective effort of individuals who network and pool their money, usually via the Internet to support efforts initiated by other people or organizations (Wikipedia).
How does the Top Talent Scholarship crowdfunding work?
Donors that wish to contribute to the scholarship fund can go here to donate. Any donation amount of $10 and higher is supported.
Donations made to pooled geographic scholarship funds are awarded to students in amounts of $250. So if there is $1000 in a pooled fund then four scholarship awards, each of $250, will be made. Scholarship applications and awards are made quarterly with applications closing 31 December, 30 March, 30 June and 30 September.
Are there costs associated with crowdfunding?
There are no costs to students to apply or receive an award. There are costs incurred by Equals6 in the operation of the crowdfunding platform, both internal operational costs and third-party costs such as credit card processing fees. These costs add up to 10% on donations made and are deducted from the overall funds contributed each calendar quarter.
What is Equals6 and why is the company supporting students with scholarships?
Equals6 is the professional social network where students make valuable connections, compete for scholarships and discover exciting career possibilities. The Equals6 community also serves as a social meeting place where students share ideas and hold lively discussions across a wide range of interesting subjects. Equals6 partners with select employers and schools to provide its student members with career and academic opportunities.
Equals6 has always recognized that students need and deserve appropriate financial support. The company has a strong track record of managing scholarship applications on behalf of organizations and private donors, and has also directly funded many scholarships. In the past three years, Equals6 has awarded more than 120 scholarships worth over $40,000.
Why should I donate?
Even a small donation can make a big difference to the future education of a student. The rising costs of education have created correspondingly huge levels of student debt. Giving back to a deserving student is a way in which we can all help to pay it forward. Supporters also receive the following benefits based on the level of their contribution,
- Addition of your name to the list of donors.
- Periodic email updates from the scholarship winner, delivered via Equals6.
- Ability to name a scholarship for donations of $250 and higher.
- Ability to both name and direct a scholarship to a specific school for donations of $500 and higher.
Is there a minimum donation?
The minimum donation is $10.
Is the funding “all or nothing”?
No – unlike some other crowdfunding platforms, the donations made to the Equals6 pooled scholarship funds are all put to use. Even small amounts can make a big difference so the gift of your donation will help a deserving student.
Do I have to have a Paypal account to donate? Can I pay by cheque?
No. When you click on the payment button, you will be able to make a credit card donation directly with Visa or Mastercard, without having a PayPal account. Alternatively, donations can be made by check made payable and forwarded as follows,
Pay To: Equals6 Technology Scholarship Fund
Suite 203, 1083 Queen St.
Canada, B3H 0B2
When is my credit card charged?
If you donate today, your credit card will be charged right away.
Do Donors receive tax receipts?
No. This is a direct gift to a pooled scholarship fund and therefore does not currently permit the generation of a tax receipt. We are looking at the future creation of a non-profit and/or charitable organization creation that would permit the issuance of charitable tax receipts.
Can I donate in my currency of choice?
All donations and scholarship awards are made in US dollars./p>
Who do I contact if I have a question about my donation?
How do I know who received my scholarship donation?
If you have donated to create a named or corporate scholarship then you will be notified of the award recipient once this decision is made. If you have donated to a pooled fund then you can Click here to see the list of award winners.
I’m a student. How do I apply for a scholarship?
To get started and apply for a scholarship, click here to register as a student in Equals6 and go to the Scholarship section. The scholarship applications are received and awards made at the end of each calendar quarter (applications closing 31 December, 30 March, 30 June and 30 September). Students need to submit a new scholarship application for each new calendar quarter.
What are the benefits to students?
Students benefit from the large pool of available funds that are distributed as individual scholarship awards. Click here to see a list of all of the students that have received scholarships via Equals6.
As a student, do I have to pay tax on the scholarship funds that I receive?
Scholarship funding received through the Equals6 Top-Talent fund may have income tax implications for you as a student. It is not possible for Equals6 to be aware of all local jurisdictional tax laws and therefore it is the student’s responsibility to consider any tax implications and to consult an accountant and/or tax advisor if necessary.
Who can apply for a scholarship?
Any North American student currently attending, or intending to attend in the next academic year, a university or college is eligible to apply for a scholarship. If you have questions regarding eligibility please contact Equals6 at firstname.lastname@example.org
How are the scholarship award winners chosen?
Scholarship award winners are chosen based upon a scoring system that factors both academic performance and Equals6 community participation. Each student receives points toward a total scholarship award score based upon the following criteria,
- Grade average as a numerical percentage (grade out of 100) which should be for the most recent full academic year.
- Equals6 Profile completion percentage.
- Number of colleagues in your Equals6 network
- Post an article or video in Resources
- Creation of an Equals6 Group
- Creation of an Equals6 Brainstorm
- Joining an Equals6 Group
- Posting to a Brainstorm discussion
- Creating and/or posting to a group discussion
- Following an organization * (points awarded up to a maximum of 10 organizations)
How are the scholarship funds distributed to the award winners?
The scholarship awards from pooled funds are made in $250 amounts and are paid directly by check to the academic institution (university or college) that the student is either currently attending or will be attending in the upcoming academic year. Corporate and named scholarships are also paid directly to the award winner’s academic institution.
How soon after my scholarship campaign ends or I receive a scholarship award will the funds be distributed?
Equals6 makes best efforts to distribute all funds received by Equals6 for your student scholarship campaign or student scholarship award (minus processing fees) to your school within 20 business days after our receipt of your proof of North America educational institution registration and directions on how to make payment to your school.
What if I’m not currently registered at a North American college or university?
The Top-Talent Scholarship program is open to students either currently registered, or intending to register within 12 months at a North American college or university. If you are not currently registered as a student, but are intending to do so within the next 12 months, you are still elgible to receive a scholarship award or initiate your own scholarship campaign. Once you are registered at a North American college or university please contact us with proof of registration and educational institution payment details and your scholarship campaign funds and/or scholarship award will be forwarded by check to your school on your behalf.
Can I receive my scholarship award in the currency of my choice?
All donations and scholarship awards are made in US dollars.